Saadatu Ramalan-Yaro, a businesswoman from Lagos, was detained and is now being tried by Justice Obiora Egwuatu of the Federal High Court in Abuja for allegedly defrauding the government of N140 billion.

This was the second time the woman was arraigned by the Economic and Financial Crimes Commission (EFCC) on money laundering charges.

Two weeks after the initial arraignment, Ramalan-Yaro was charged with violating her obligations as the director of the designated non-financial business Tsami Babi Resources Limited by failing to submit the company’s activities.

According to the EFCC, Ramalan-Yaro made a N100 billion deposit into the business’ Zenith Bank account without notifying the Ministry of Commerce.

The accused allegedly broke Sections 5(1)(a) and 16(1) of the Money Laundering Prohibition Act of 2011 (as amended), which is punishable under Section 16(2)(b) of the same Act.

The second accusation was made against Ramallan-Yaro and M.A.Y. Fine Fragrance Limited, a designated non-financial institution, for allegedly laundering N40 billion. The accused pleaded not guilty, and the prosecution sought a date for the case to begin.

In court on Monday, the defendant’s defense attorney, a Senior Advocate of Nigeria (SAN), reportedly asked for bail, which Justice Egwuatu granted. The trial was adjourned until July 12 and 13, 2023.

The defendant had to submit a copy of her passport to the court as part of the bail requirements, and she also had to pay a total of N100 million in bail with two sureties—one of whom had to be a government employee and the other a relative.